topic Re: 401K/Annuity Rollover in Retirement tax questions

401K/Annuity Rollover

DonandLuAnne — Tue, 24 Mar 2026 14:31:43 GMT

My Annuity/401k rollover is showing as non taxable income instead of a Rollover, although it doesn't seem to effect my taxable income, my financial advisor said that this is not correct, and could cause problems. Any thoughts?

Re: 401K/Annuity Rollover

ThomasM125 — Tue, 24 Mar 2026 15:01:03 GMT

As long as the distribution is not showing as taxable, your tax should be calculated correctly, as far as the pension distribution is concerned.

Your pension rollover should show on line 5(a) on your form 1040 and the taxable amount, if any, would show on line 5(b). If it was coded as a rollover by virtue of a code "G" in box 7 on the Form 1099-R, you should see a check mark in the box 5(c) on your Form 1040. Otherwise, you may not see that, even though you rolled the funds over.

If you don't see the check mark, you can review our entries in the section where you entered the Form 1099-R to make sure you answered everything correctly. If so, the treatment of the distribution by TurboTax will be correct.

Re: 401K/Annuity Rollover

dmertz — Tue, 24 Mar 2026 15:49:07 GMT

You financial advisor is misinformed. A rollover is nontaxable income and calling it nontaxable income doesn't cause any problems.